Malaysia launches MySaham app for Bumiputera share applications
The mobile platform supports investor registration, application tracking and access to allocation results.
Malaysia's Investment, Trade and Industry Ministry (Miti) has introduced MySaham Miti, a mobile app intended to help Bumiputera investors find information about special share allocations and submit applications.
Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani said the platform was designed to make applications for initial public offering (IPO) investments more orderly and transparent. It would also allow investors to track their submissions and see allocation decisions, he said.
The app allows users to register as investors, apply for shares, check application progress and view allocation results. It also provides notifications about offerings, important dates, announcements and developments concerning Bumiputera Special Shares (SKB). Portfolio viewing is available subject to the functions offered.
Under the existing IPO framework, companies applying for a Bursa Malaysia listing must set aside 12.5 per cent of their shares for Bumiputera investors. Miti coordinates these special allocations for eligible investors.
Johari said digitalisation was intended to improve procedures that previously involved manual work. The government also wanted a more systematic allocation process that reduced unnecessary intervention, including in the selection and distribution of smaller lots.
He said the app's success should be judged by its usefulness to users and how readily they could obtain investment information. He also called for better investment literacy alongside wider access.
